HOW LONG SHOULD AN AGENCY SEARCH TAKE?

by Erinn Farrell, SVP of Business Management at space150

"You do New Biz — right?"

It's a question I've received a lot over the last couple of years. A few years ago I was unofficially, officially, assigned to look after New Business as a discipline at space150. I, like many before me, walked into the role assuming a few things: (1) that the process was broken, (2) that I could fix it, (3) that it would be easy, and (4) that I could do it alone. Spoiler alert: My assumption was right on for (1) and couldn't be more off for the other three.

The not-so-secret secret is that the New Business process for both the agency and the client is ripe with frustration, filled with unanswered questions, wavering fears, maybes, and could-have-beens. For the most part it is broken and often doesn't yield the results it deserves. But don't worry — it's not beyond repair.

Over the next few weeks I will break down components of the New Business process in hopes of providing some clarity on how agencies operate (well, ours at the very least), and all sides of the "new biz" equation along the way.

Searches usually start with hand-me-down experiences, outlines from consultants, or advice from procurement on how to conduct a fair assignment. My advice: challenge the status quo and the "tried and true" agency search process from years past. You are the one who is looking for your partner, you know what is most important to you, you know how you work and what your company is capable of, so craft a search that focuses on what is important to you. Ask yourself: does the status quo benefit the search consultant, procurement teams or the brand team?Done with the right level of engagement and involvement, the whole search could take six weeks from start to finish, and that means internal time for your team as well.

Six weeks? Am I crazy? No, I'm not. Because like most things in life, a concerted and focused effort is better then a long drawn out process. You're looking for a long term partner, so commit and focus. Why 6 weeks? Anything faster is rushed, and much longer can begin to lose momentum on both sides. Some suggestions:

WEEK 1: DO YOUR RESEARCH.

Before you reach out to agencies poll internal or peer resources to determine any past relationships or potential fits. In addition, throw in work you like from various agencies, and maybe even a dark horse agency you think is a long shot. Narrow this list to no more than five or six agencies. Limited choice is your friend, it keeps you from being paralyzed in the decision-making process and will get you to partnership sooner.

WEEK 2: SAY NO TO THE RFI AND INTERVIEW IN PERSON OR OVER THE PHONE.

Your first filter shouldn't be what an agency returns to you in a worksheet (that's what your research is for), instead start with a conversation. Does the vibe feel right? Is the conversation fluid? Do they share your values? Do they understand your industry? Do you like them as people? Does their thinking and work align with your goals? Those should be the filters that drive them to the next round, not how many boxes were checked on a worksheet.

WEEK 3 & 4: RFP TWO TO THREE FINALISTS.

Give them two weeks to complete the assignment and be sure to include at least one conversation during each week to answer questions. Plan to provide followups and further conversations if necessary. Conversations are important, they may feel unfair if you are giving more time to one agency over another, but they also provide insights and perspective you'll never get on paper. The RFP (especially if it includes a creative assignment) shouldn't be an exercise for the agency in guessing what you have in your head, but rather insight into process, a feeling of what it is to work together, and an opportunity for you to refine your understanding of your own needs.

WEEK 5: PRESENTATIONS IN PERSON AT THE AGENCY LOCATION.

Allow your finalists time to expand on the work they've shared, and for you to get to know them more. They may be great on paper but flat in person, or vice versa. Give them the opportunity to share both sides with you. Agencies are proud of their spaces. They feel comfortable, they feel more confident. They know the technology so you can cut out the 15 minutes of "do you have the right plug in." This is your chance to get away from your office and enjoy the act of being presented to, as well as getting the feel of their space and people. You know what your culture is. This is an opportunity to see if theirs feels like one that will complement/supplement/improve yours. You won't know unless you're there.

WEEK 6: MAKE YOUR SELECTION. BE CONFIDENT. SHARE THE NEWS. CELEBRATE.

Ideally the person/team who has run the process is also responsible for the final decision. If it's a team of people that come to an agreement together then craft your recommendation for leadership to approve. This is not supposed to be easy. If you're lucky you will have two, maybe three great options — and it will be difficult to choose with all the parties weighing perspectives differently. I can't offer much advice here other than to trust your gut. Remember that the relationship is made up of a lot of elements, some more important than others, and your gut will tell you a lot. Once you know, make quick work of alerting others and be sure to celebrate both internally and with the chosen agency. You should be proud of the approach you've taken, and the opportunities ahead. Celebrate and get the contracts moving so you can capitalize on momentum.

These six weeks should be exciting. They will be busy, at times hectic and even a little chaotic, but I promise that if you invest this time during the search in the end you will emerge with not only an agency, but a partner who is equally invested in your goals as a company. Of course, there are a lot of ways to go astray during the search, and a lot that may throw either team off their game. I'll cover that next week in "12 Agency Search Mistakes to Avoid."